Blue Oval Staff Posted August 14, 2015 Share Posted August 14, 2015 Tesla to raise capital for e-car, energy projects Tesla Motors announced Thursday it was planning to sell 2.1 million new shares in hopes of raising about $500 million (450 million euros). Tesla said it imagined the shares would be sold at Wednesday's closing price of $238.17. Chief Executive Elon Musk would be ready to buy nearly 84,000 shares for about $20 million in the offering, according to a company statement. Musk is already the company's largest shareholder with a 22.25 percent stake. He intends to use the fresh cash to boost the development of Tesla's energy business, its upcoming Model 3 project and its Gigafactory battery manufacturer. Book-running managers for the offering included Goldman Sachs, Morgan Stanley, JPMorgan and Deutsche Bank Securities. Tesla burns cash The offering comes a week after Tesla reported a huge loss in the second quarter. The Silicon Valley-based e-car maker delivered 11,532 cars in the second period and said it had an operating loss of about $47 million, meaning a loss of $4,000 on every car it sold. http://www.dw.com/en/tesla-to-raise-capital-for-e-car-energy-projects/a-18648121 Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted August 14, 2015 Share Posted August 14, 2015 Wouldn't be awesome if your company actually produced enough revenue on its own to fund new projects? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted August 14, 2015 Share Posted August 14, 2015 Wouldn't be awesome if your company actually produced enough revenue on its own to fund new projects? I just wish certain parts of the press (who should know better) would stop extrapolating comparisons with Ford's Model T It's complete BS that is also fooling potential investors into believing Tesla is more than it really is, a house of cards. Funny how each time quarterly revenue takes a dive, there's another stock release just around the corner. I have to ask, when is this madness coming to an end, Musk cannot keep fooling these investors. Quote Link to comment Share on other sites More sharing options...
atomcat68 Posted August 14, 2015 Share Posted August 14, 2015 ...And their main source of money, tax credits which they sell, is about to run out. Quote Link to comment Share on other sites More sharing options...
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